No part of that is untrue. It's a problem, and we need to find a solution. Eventually the third world will catch up; as their middle classes grow, there'll be pressure to pay the higher wages people want. But that takes time.
So what do we do? I don't have an answer, so I suppose it's a good thing I'm not running for president. But we've met these challenges in the past.
The problem is twofold, really: we outsource to countries where wages and other costs are lower, and here at home yet more jobs are eliminated by increasing automation. Many of the jobs that were lost as a result of the 2008 crisis never came back, simply because employers learned they could replace workers with machines. Now only a few humans can run a factory that would once have employed hundreds of people.
But we've been dealing with automation ever since the invention of the wheel. There really is no way back. So we need to find a way forward. That would entail creating not just new jobs, but new kinds of jobs that pay well.
I'd like to see The Donald's real record on job creation. He claims to be a whiz at it. Yet as far as I can tell, most of the people he's hired have been at the bottom of the ladder. Being a hotel maid is not really the way to a better future for yourself and your family.
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